Capital contribution: Naidoo R200 000 Pillay R300 000 The remaining profit of R700 000 will be shared according to their capital contributions. Profit will be shared as follows: O A. Naidoo R50 000 Pillay R150 000. O B. Naidoo R280 000 Pillay R420 000. O C. Naidoo R755 000 Pillay R125 000. O D. Naidoo R45 000 Pillay R155 000.
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- For 2020, Garden Corporation has 800.000 of gross profit from its sales and $410,000 of operating expenses. Garden makes $90,000 of cash charitable contributions during 2020 Inot inchuded in the other amounts). How much of these contributions can it deduct for 2020? (Note that this is for 2020, ie, 25%) O $75.000 O $97.500 $22.500 O $90.000Juan and Pedro have the following transactions during the year:Juan:Beginning capital – 01/01/2022 – 1,000,000Debit - - 08/01/2022 – 300,000Debit - - 09/01/2022 – 800,000Credit - - 10/30/2022 – 900,000Credit - - 04/01/2022 – 70,000Pedro:Beginning capital – 01/01/2022 – 700,000Debit - - 09/01/2022 – 100,000Debit - - 05/30/2022 – 90,000Credit - - 11/30/2022 – 500,000Credit - - 06/30/2022 – 100,000What is the ratio of Juan’s share in income if the partnership calls for profit sharing equivalent to the average capital ratio?The capital accounts and profit and loss ratio of A and B are shown below: Capital Profit and Loss ratio P 60,000 40,000 P 100,000 50% 50% 100% A в Give the journal entries under the following cases: 1. C purchases one-half interest of A for P35,000. 2. B sells one-fourth of his interest to C for P12,000. 3. C purchases one-half interest of both A and B for P55,000 (use two methods) 4. C invests P20,000 for a one-sixth interest in the new firm. The agreeed new capital is p120,000. 5. C invests P40,000 for a one-fourth interest in the new firm. 6. C invests P35,000 for a one-fourth interest in the new firm with agreed capitalization of *135,000. 7. Cinvests P35,000 for a one-fourth interest in the firm. The agreed new capital is P140,000. After the admission of C, the capital con- tributions must be made equal to the new profit and loss ratio. 8. Cinvests P40,000 for a one-third interest in the firm with a total new capital of P150,000.
- Sales 10,000,000 6,000,000 1,000,000 100,000 180,000 100,000 Cost of Sales General Business Expenses Interest income on time deposit(gross) Depreciation Expense Charitable Contributions to the Government for Public Purpose (Priority project) If JMC is an individual, and she would use itemized deduction in her annual income tax return, how much is the total allowable deduction?Profit sharing to the Andara firm which got a loss of IDR 15,820,800, - which is a mustborne by Sani, Rina and Tika as allies involved. Profit formation and sharingin accordance with the agreement are as follows;1. Tika's share is 20% of profit / loss2. Sani and Rina get interest for the initial capital of IDR 2,500,0003. Sani gets a salary of IDR 100,000 / month and Rina IDR 150,000 / month4. The remainder is divided equally among Sani and Rina.Calculate the total partnership capital based on the profit sharing at the Andara firm!A non-profit organization received S80,000 as the entrance fee of a new member. If 10% of the fee has to be capitalized, what is the amount of fee needs to be shown in the income and expenditure account? O a. S72,000 O b. $82,000 O . S80,000 O d. $62,000
- Sherry and Jonnie Allocate 2/3 of the profits and losses to Sherry and 1/3 to Jonnie. If the Net Income of the firm is $30,000, calculate the share of Jonnie's Net Income A $ 10,000.00 B $ 20,000.00 C $ 25,000.00 D $ 30,000.00According to Profil and Loss Account, the net profit for the year is OMR250,000. The total interest on partner's capital is OMR BOLO00 and interest on partner's drawings is OMR 30.000 The net profit as per Profit and Loss Appropriation Account will be OMR 110.000 (Prolit) OMR 200,000(Loss) OMR 200,000(Protit) OMR 200000 (Profit)Profit sharing to the Andara firm which got a loss of Rp. 15,820,800, - which is a mustborne by Sani, Rina and Tika as allies involved. Profit formation and sharingin accordance with the agreement are as follows;1. Tika's share is 20% of profit / loss2. Sani and Rina get interest for the initial capital of IDR 2,500,0003. Sani gets a salary of IDR 100,000 / month and Rina IDR 150,000 / month4. The remainder is divided equally among Sani and Rina. Calculate the total partnership capital based on the profit sharing at the Andara firm!
- Even though abel donated P100,000 and Carr supplied P84,000 in recognised assets, Johney and Carr established a partnership and decided to distribute initial funds evenly. Carr's unidentified assets should be deducted using the bonus method approach to capital account adjustment. 46,00016,0008,0000X derived the following income in 2020: Business income of P400,000 Compensation income of P200,000 Interest income from 5/6 lending to clients: P150,000 Interest income from bank deposits in the amount of P25,000. Royalty income for the sale of books where he is the author: P120,000. Capital gain on sale of personal car in the amount of P20,000. Capital gain on the sale of stocks directly to buyer: P30,000. Ordinary gain on sale of old office furniture in the amount of P10,000. Dividend income from stocks of San Miguel Corporation: P60,000. Proceeds received from the life insurance of his deceased father: P1,000,000 what is the total income of X which is subject to final tax?Partners De Guzman and Tugade receive a salary allowance of P30,000 and P70,000, respectively, and share the remainder equally. If the company earned P40,000 during the period, what is the effect on Tugade’s capital? a.P30,000 decrease b.P40,000 increasec. c.P50,000 increased. d.P90,000 increase